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The Greatest Propaganda Coup Of Our Time?

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From Mike Whitney of Counterpunch

The Greatest Propaganda Coup of Our Time?

There’s good propaganda and bad propaganda. Bad propaganda is generally crude, amateurish Judy Miller “mobile weapons lab-type” nonsense that figures that people are so stupid they’ll believe anything that appears in “the paper of record.” Good propaganda, on the other hand, uses factual, sometimes documented material in a coordinated campaign with the other major media to cobble-together a narrative that is credible, but false.

The so called Fed’s transcripts, which were released last week, fall into the latter category. The transcripts (1,865 pages) reveal the details of 14 emergency meetings of the Federal Open Market Committee (FOMC) in 2008, when the financial crisis was at its peak and the Fed braintrust was deliberating on how best to prevent a full-blown meltdown. But while the conversations between the members are accurately recorded, they don’t tell the gist of the story or provide the context that’s needed to grasp the bigger picture. Instead, they’re used to portray the members of the Fed as affable, well-meaning bunglers who did the best they could in ‘very trying circumstances’. While this is effective propaganda, it’s basically a lie, mainly because it diverts attention from the Fed’s role in crashing the financial system, preventing the remedies that were needed from being implemented (nationalizing the giant Wall Street banks), and coercing Congress into approving gigantic, economy-killing bailouts which shifted trillions of dollars to insolvent financial institutions that should have been euthanized.

What I’m saying is that the Fed’s transcripts are, perhaps, the greatest propaganda coup of our time. They take advantage of the fact that people simply forget a lot of what happened during the crisis and, as a result, absolve the Fed of any accountability for what is likely the crime of the century. It’s an accomplishment that PR-pioneer Edward Bernays would have applauded. After all, it was Bernays who argued that the sheeple need to be constantly bamboozled to keep them in line. Here’s a clip from his magnum opus “Propaganda”:

“The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country.”

Sound familiar? My guess is that Bernays’ maxim probably features prominently in editors offices across the country where “manufacturing consent” is Job 1 and where no story so trivial that it can’t be spun in a way that serves the financial interests of the MSM’s constituents. (Should I say “clients”?) The Fed’s transcripts are just a particularly egregious example. Just look at the coverage in the New York Times and judge for yourself. Here’s an excerpt from an article titled “Fed Misread Crisis in 2008, Records Show”:

“The hundreds of pages of transcripts, based on recordings made at the time, reveal the ignorance of Fed officials about economic conditions during the climactic months of the financial crisis. Officials repeatedly fretted about overstimulating the economy, only to realize time and again that they needed to redouble efforts to contain the crisis.” (“Fed Misread Crisis in 2008, Records Show”, New York Times)

This quote is so misleading on so many levels it’s hard to know where to begin.

First of all, the New York Times is the ideological wellspring of elite propaganda in the US. They set the tone and the others follow. That’s the way the system works. So it always pays to go to the source and try to figure out what really lies behind the words, that is, the motive behind the smokescreen of half-truths, distortions, and lies. How is the Times trying to bend perceptions and steer the public in their corporate-friendly direction, that’s the question. In this case, the Times wants its readers to believe that the Fed members “misread the crisis”; that they were ‘behind the curve’ and stressed-out, but–dad-gum-it–they were trying their level-best to make things work out for everybody.

How believable is that? Not very believable at all.

Keep in mind, the crisis had been going on for a full year before the discussions in these transcripts took place, so it’s not like the members were plopped in a room the day before Lehman blew up and had to decide what to do. No. They had plenty of time to figure out the lay of the land, get their bearings and do what was in the best interests of the country. Here’s more from the Times:

”My initial takeaway from these voluminous transcripts is that they paint a disturbing picture of a central bank that was in the dark about each looming disaster throughout 2008. That meant that the nation’s top bank regulators were unprepared to deal with the consequences of each new event.”

Have you ever read such nonsense in your life? Of course, the Fed knew what was going on. How could they NOT know? Their buddies on Wall Street were taking it in the stern sheets every time their dingy asset pile was downgraded which was every damn day. It was costing them a bundle which means they were probably on the phone 24-7 to (Treasury Secretary) Henry Paulson whining for help. “You gotta give us a hand here, Hank. The whole Street is going toes-up. Please.”

Here’s more from the NYT:

“Some Fed officials have argued that the Fed was blind in 2008 because it relied, like everyone else, on a standard set of economic indicators. As late as August 2008, “there were no clear signs that many financial firms were about to fail catastrophically,” Mr. Bullard said in a November presentation in Arkansas that the St. Louis Fed recirculated on Friday. “There was a reasonable case that the U.S. could continue to ‘muddle through.’ (“Fed Misread Crisis in 2008, Records Show”, New York Times)

There’s that same refrain again, “Blind”, “In the dark”, “Behind the curve”, “Misread the crisis”.

Notice how the Times only invokes terminology that implies the Fed is blameless. But it’s all baloney. Everyone knew what was going on. Check out this excerpt from a post by Nouriel Roubini that was written nearly a full year before Lehman failed:

“The United States has now effectively entered into a serious and painful recession. The debate is not anymore on whether the economy will experience a soft landing or a hard landing; it is rather on how hard the hard landing recession will be. The factors that make the recession inevitable include the nation’s worst-ever housing recession, which is still getting worse; a severe liquidity and credit crunch in financial markets that is getting worse than when it started last summer; high oil and gasoline prices; falling capital spending by the corporate sector; a slackening labor market where few jobs are being created and the unemployment rate is sharply up; and shopped-out, savings-less and debt-burdened American consumers who — thanks to falling home prices — can no longer use their homes as ATM machines to allow them to spend more than their income. As private consumption in the US is over 70% of GDP the US consumer now retrenching and cutting spending ensures that a recession is now underway.


On top of this recession there are now serious risks of a systemic financial crisis in the US as the financial losses are spreading from subprime to near prime and prime mortgages, consumer debt (credit cards, auto loans, student loans), commercial real estate loans, leveraged loans and postponed/restructured/canceled LBO and, soon enough, sharply rising default rates on corporate bonds that will lead to a second round of large losses in credit default swaps. The total of all of these financial losses could be above $1 trillion thus triggering a massive credit crunch and a systemic financial sector crisis.” ( Nouriel Roubini Global EconoMonitor)

Roubini didn’t have some secret source for data that wasn’t available to the Fed. The financial system was collapsing and it had been collapsing for a full year. Everyone who followed the markets knew it. Hell, the Fed had already opened its Discount Window and the Term Auction Facility (TAF) in 2007 to prop up the ailing banks–something they’d never done before– so they certainly knew the system was cratering. So, why’s the Times prattling this silly fairytale that “the Fed was in the dark” in 2008?

I’ll tell you why: It’s because this whole transcript business is a big, freaking whitewash to absolve the shysters at the Fed of any legal accountability, that’s why. That’s why they’re stitching together this comical fable that the Fed was simply an innocent victim of circumstances beyond its control. And that’s why they want to focus attention on the members of the FOMC quibbling over meaningless technicalities –like non-existent inflation or interest rates–so people think they’re just kind-hearted buffoons who bumbled-along as best as they could. It’s all designed to deflect blame.

Don’t get me wrong; I’m not saying these conversations didn’t happen. They did, at least I think they did. I just think that the revisionist media is being employed to spin the facts in a way that minimizes the culpability of the central bank in its dodgy, collaborationist engineering of the bailouts. (You don’t hear the Times talking about Hank Paulson’s 50 or 60 phone calls to G-Sax headquarters in the week before Lehman kicked the bucket, do you? But, that’s where a real reporter would look for the truth.)

The purpose of the NYT article is to create plausible deniability for the perpetrators of the biggest ripoff in world history, a ripoff which continues to this very day since the same policies are in place, the same thieving fraudsters are being protected from prosecution, and the same boundless chasm of private debt is being concealed through accounting flim-flam to prevent losses to the insatiable bondholders who have the country by the balls and who set policy on everything from capital requirements on complex derivatives to toppling democratically-elected governments in Ukraine. These are the big money guys behind the vacillating-hologram poseurs like Obama and Bernanke, who are nothing more than kowtowing sock puppets who jump whenever they’re told. Here’s more bunkum from the Gray Lady:

”By early March, the Fed was moving to replace investors as a source of funding for Wall Street.


Financial firms, particularly in the mortgage business, were beginning to fail because they could not borrow money. Investors had lost confidence in their ability to predict which loans would be repaid. Countrywide Financial, the nation’s largest mortgage lender, sold itself for a relative pittance to Bank of America. Bear Stearns, one of the largest packagers and sellers of mortgage-backed securities, was teetering toward collapse.


On March 7, the Fed offered companies up to $200 billion in funding. Three days later, Mr. Bernanke secured the Fed policy-making committee’s approval to double that amount to $400 billion, telling his colleagues, “We live in a very special time.”


Finally, on March 16, the Fed effectively removed any limit on Wall Street funding even as it arranged the Bear Stearns rescue.” (“Fed Misread Crisis in 2008, Records Show”, New York Times)

This part deserves a little more explanation. The author says “the Fed was moving to replace investors as a source of funding for Wall Street.” Uh, yeah; because the whole flimsy house of cards came crashing down when investors figured out Wall Street was peddling toxic assets. So the money dried up. No one buys crap assets after they find out they’re crap; it’s a simple fact of life. The Times makes this sound like this was some kind of unavoidable natural disaster, like an earthquake or a tornado. It wasn’t. It was a crime, a crime for which no one has been indicted or sent to prison. That might have been worth mentioning, don’t you think?

More from the NYT: “…on March 16, the Fed effectively removed any limit on Wall Street funding even as it arranged the Bear Stearns rescue.”

Yipee! Free money for all the crooks who blew up the financial system and plunged the economy into recession. The Fed assumed blatantly-illegal powers it was never provided under its charter and used them to reward the people who were responsible for the crash, namely, the Fed’s moneybags constituents on Wall Street. It was a straightforward transfer of wealth to the Bank Mafia. Don’t you think the author should have mentioned something about that, just for the sake of context, maybe?

Again, the Times wants us to believe that the men who made these extraordinary decisions were just ordinary guys like you and me trying to muddle through a rough patch doing the best they could.

Right. I mean, c’mon, this is some pretty impressive propaganda, don’t you think? It takes a real talent to come up with this stuff, which is why most of these NYT guys probably got their sheepskin at Harvard or Yale, the establishment’s petri-dish for serial liars.

By September 2008, Bernanke and Paulson knew the game was over. The crisis had been raging for more than a year and the nation’s biggest banks were broke. (Bernanke even admitted as much in testimony before the Financial Crisis Inquiry Commission in 2011 when he said “only one ….out of maybe the 13 of the most important financial institutions in the United States…was not at serious risk of failure within a period of a week or two.” He knew the banks were busted, and so did Paulson.) Their only chance to save their buddies was a Hail Mary pass in the form of Lehman Brothers. In other words, they had to create a “Financial 9-11?, a big enough crisis to blackmail congress into $700 no-strings-attached bailout called the TARP. And it worked too. They pushed Lehman to its death, scared the bejesus out of congress, and walked away with 700 billion smackers for their shifty gangster friends on Wall Street. Chalk up one for Hank and Bennie.

The only good thing to emerge from the Fed’s transcripts is that it proves that the people who’ve been saying all along that Lehman was deliberately snuffed-out in order to swindle money out of congress were right. Here’s how economist Dean Baker summed it up the other day on his blog:

“Gretchen Morgensen (NYT financial reporter) picks up an important point in the Fed transcripts from 2008. The discussion around the decision to allow Lehman to go bankrupt makes it very clear that it was a decision. In other words the Fed did not rescue Lehman because it chose not to.


This is important because the key regulators involved in this decision, Ben Bernanke, Hank Paulson, and Timothy Geithner, have been allowed to rewrite history and claim that they didn’t rescue Lehman because they lacked the legal authority to rescue it. This is transparent tripe, which should be evident to any knowledgeable observer.” (“The Decision to Let Lehman Fail”, Dean Baker, CEPR)

Here’s the quote from Morgenson’s piece to which Baker is alluding:

“In public statements since that time, the Fed has maintained that the government didn’t have the tools to save Lehman. These documents appear to tell a different story. Some comments made at the Sept. 16 meeting, directly after Lehman filed for bankruptcy, indicate that letting Lehman fail was more of a policy decision than a passive one.” (“A New Light on Regulators in the Dark”, Gretchen Morgenson, New York Times)

Ah ha! So it was a planned demolition after all. At least that’s settled.

Here’s something else you’ll want to know: It was always within Bernanke’s power to stop the bank run and end to the panic, but if he relieved the pressure in the markets too soon (he figured), then Congress wouldn’t cave in to his demands and approve the TARP. Because, at the time, a solid majority of Republicans and Democrats in congress were adamantly opposed to the TARP and even voted it down on the first ballot. Here’s a clip from a speech by, Rep Dennis Kucinich (D-Ohio) in September 2008 which sums up the grassroots opposition to the bailouts:

“The $700 bailout bill is being driven by fear not fact. This is too much money, in too short of time, going to too few people, while too many questions remain unanswered. Why aren’t we having hearings…Why aren’t we considering any other alternatives other than giving $700 billion to Wall Street? Why aren’t we passing new laws to stop the speculation which triggered this? Why aren’t we putting up new regulatory structures to protect the investors? Why aren’t we directly helping homeowners with their debt burdens? Why aren’t we helping American families faced with bankruptcy? Isn’t time for fundamental change to our debt-based monetary system so we can free ourselves from the manipulation of the Federal Reserve and the banks? Is this the US Congress or the Board of Directors of Goldman Sachs?”

But despite overwhelming public resistance, the TARP was pushed through and Wall Street prevailed. mainly by sabotaging the democratic process the way they always do when it doesn’t suit their objectives.)

Of course, as we said earlier, Bernanke never really needed the money from TARP to stop the panic anyway. (Not one penny of the $700 bil was used to shore up the money markets or commercial paper markets where the bank run took place.) All Bernanke needed to do was to provide backstops for those two markets and, Voila, the problem was solved. Here’s Dean Baker with the details:

“Bernanke deliberately misled Congress to help pass the Troubled Asset Relief Program (TARP). He told them that the commercial paper market was shutting down, raising the prospect that most of corporate America would be unable to get the short-term credit needed to meet its payroll and pay other bills. Bernanke neglected to mention that he could singlehandedly keep the commercial paper market operating by setting up a special Fed lending facility for this purpose. He announced the establishment of a lending facility to buy commercial paper the weekend after Congress approved TARP.” (“Ben Bernanke; Wall Street’s Servant”, Dean Baker, Guardian)

So, there you have it. The American people were fleeced in broad daylight by the same dissembling cutthroats the NYT is now trying to characterize as well-meaning bunglers who were just trying to save the country from another Great Depression.

I could be wrong, but I think we’ve reached Peak Propaganda on this one.

(Note: By “good” propaganda, I mean “effective” propaganda. From an ethical point of view, propaganda can never be good because its objective is to intentionally mislead people…..which is bad.)


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Sat, 03/01/2014 - 19:24 | 4495012 The Gooch
The Gooch's picture

100 years of usury.

File on time, serfs.

Sat, 03/01/2014 - 19:41 | 4495069 James_Cole
James_Cole's picture


I could be wrong, but I think we’ve reached Peak Propaganda on this one.


The author points out the funny thing we always see in the media:

- Before a crisis all these financial folks are geniuses who’s word must be treated like holy script from the bible. 

- During crisis they are - of course - the only ones who know how to handle things  and thus must be granted whatever powers they desire

- After crisis we find out actually that they were caught by surprise and tried to do their best but were totally overwhelmed by unexpected developments, in other words they were (temporary) dumbasses

- And finally we’re told but now they’ve learned and things will be different and we must totally support them going forward. 

Rinse and repeat!


Sat, 03/01/2014 - 19:46 | 4495086 linniepar
linniepar's picture

Can we please end the fucking fed now? Criminal behavior rewarded with trillions. What a strange world we live in.

Sat, 03/01/2014 - 19:51 | 4495092 bigdumbnugly
bigdumbnugly's picture

no, probably not,

today's trillions are tomorrow's kazillions.

it doesn't end until it is made to do so.

Sat, 03/01/2014 - 20:12 | 4495145 negative rates
negative rates's picture

When hypocrisy has no limit, it's time to chop chop as they say in Vegas! Hows about you and me do a little choppin?

Sat, 03/01/2014 - 20:29 | 4495190 superflex
superflex's picture

Start Choppin


Sat, 03/01/2014 - 20:43 | 4495219 Troll Magnet
Troll Magnet's picture

One Jewish-owned institution providing cover for another Jewish-owned institution? Say it ain't so!

Next thing you're gonna tell me is that these people lie and cheat from birth to death! Uh uh. No way!

Sat, 03/01/2014 - 21:04 | 4495257 Jack Burton
Jack Burton's picture

I'm pretty sure the Lutherans are behind a lot of this. After all, they didn't burn us at the stake for nothing. AKA Bloody Mary, Queen of England before Elizabeth.

Sun, 03/02/2014 - 01:35 | 4495349 AlaricBalth
AlaricBalth's picture

"Good propaganda, on the other hand, uses factual, sometimes documented material in a coordinated campaign with the other major media to cobble-together a narrative that is credible, but false."

This is called sophistry and the Fed has mastered the art. Sophistry is an argument that seems plausible, but is fallacious or misleading, especially one devised deliberately to be so.

The current economic dogma espoused by the high priests of finance at the Fed is widely accepted as incontrovertible. It has been designed to obfuscate and confuse the public at large.

The false narrative that the Fed is wise and infallible has been carefully cultivated over the last hundred years. Economists as disciplined scientists have proven to be nothing more than modern day alchemists. They have their computers and various economic models such as rational expectations and quantitative analysis, which are mind boggling to the layman and convey a conviction of authority which is utilized to garner trust.

In reality the Fed's forecasting prowess is no better than the national sports prognosticators who, like the Fed rely on a populace with a short memory.

Sun, 03/02/2014 - 09:44 | 4496657 Manthong
Manthong's picture

Well, look at the good news (don't forget other uses for fraud fiat)..

At least Obama’s buddies got plenty of fiat to blow on fake or failed “green” boondoggles.

Sun, 03/02/2014 - 14:20 | 4497767 fockewulf190
fockewulf190's picture

Just wanted to add, that there has been more than enough time to produce this document to show the public the story they want told.  It could all be genuine, but it could also be a scrubbed and rewritten storyline written by design by a national intelligence service. 

It would be interesting to know what kind of secrecy clauses members must agree to before appointment.

As Mr. Whitney writes above:

"Don’t get me wrong; I’m not saying these conversations didn’t happen. They did, at least I think they did."

They want you to think that it´s all untampered and legit, but there is no practicle way of proving that they are, indeed, genuine or not.  I mean seriously, after such an amount of time has passed, and consequential events have happened as a result of decisions made, "armchair quarterbacks" galore can come in and create, modify, scrub, or completely rewrite history. In todays political world, who wouldn´t take advantage of such an opportunity?

Unless another Snowden pops up with a thumb drive full of whoopass, you get the document as is. 

Sat, 03/01/2014 - 21:19 | 4495290 negative rates
negative rates's picture

I would start with a 1924 model T. You ever think about gettin a pair of them store bought teeth?

Sun, 03/02/2014 - 07:20 | 4496482 RealityCheque
RealityCheque's picture

Assuming its "quadrillion" next. What is the next denomination after that?

Seriously now, because we all know we're going to see it.

Sun, 03/02/2014 - 08:24 | 4496517 negative rates
negative rates's picture

Say what youngster?? Can't you see the light at the end of the tunnel is fastly approaching. And you don't want to know what's on that other side, trust me.

Sat, 03/01/2014 - 19:56 | 4495106 cynicalskeptic
cynicalskeptic's picture

Better to be seen as an affable bungler than an evil plotter.... hey, it worked for W.  Cheney and the neo-cons get more blame than the man who was President - and who carefully plotted the path to get ther.. the 'ranch' in Crawford and a deliberate 'dumbing down' of the public image (along with a thorough scrubibing of all past records - including TANG service).  

You don't really think that the behind the scenes plotting will ever be revealed, do you?    It's always been thus.  The history of the world for public view is very different than the reality.

Sat, 03/01/2014 - 20:24 | 4495179 weburke
weburke's picture

the harvard study on education reccomended doing away with history studies.

easy to say "gee we were dumb" instead of haveing to explain real reasons. Other side of it is when they lay our massive lies, expecting those with careers to go along with the lies or else. my latest favorite is "hybrid howlers".

Sat, 03/01/2014 - 21:57 | 4495334 James_Cole
James_Cole's picture

There's definitely a lot of stupidity involved. It's like someone hires a contractor to do work on their house and through sheer stupidity the contractor burns the house to the ground. Then, not only does the person hire the contractor to build their replacement house but also asks advice on how to protect against fires.

Idiocy on all sides, only way it can work though is high levels of propaganda. 

Sat, 03/01/2014 - 22:08 | 4495359 nmewn
nmewn's picture

"Idiocy on all sides, only way it can work though is high levels of propaganda."


Kinda like the 30 million uninsured beating down the doors of health insurance companies to get ObamaCare right now.

It doesn't make any difference if the side thats "comfortable" with the propaganda won't step forward and help expose the lie.

Sat, 03/01/2014 - 22:55 | 4495420 James_Cole
James_Cole's picture


Propaganda is always crafted to the audience, i.e. the people who’d want to believe its particular lies. Hence why the propaganda that would work on me is different than the propaganda that would work on you. 


Sun, 03/02/2014 - 13:48 | 4497634 SDShack
SDShack's picture

No surprise that the greatest propaganda of our time would come from the greatest sociopaths of our time. It's what they do... because it's ALL they do.

Sat, 03/01/2014 - 20:42 | 4495218 20834A
20834A's picture

You nailed it, James. +100

Sat, 03/01/2014 - 20:21 | 4495173 blindman
blindman's picture

“Anyone who believes that exponential growth can go on forever in a finite world is either a madman or an economist.”

? Kenneth Boulding
Prepare 2014 Economic Collapse, Global Economic Crisis

Sat, 03/01/2014 - 19:24 | 4495014 mvsjcl
mvsjcl's picture

"But while the conversations between the members are accurately recorded..."


And you know this because....?

Sat, 03/01/2014 - 20:05 | 4495126 DavidC
DavidC's picture

"Don’t get me wrong; I’m not saying these conversations didn’t happen. They did, at least I think they did."


Sat, 03/01/2014 - 22:14 | 4495371 Kirk2NCC1701
Kirk2NCC1701's picture

They're all professional liars, be it "WH Bob" or "Baghdad Bob":

Sat, 03/01/2014 - 19:26 | 4495020 TeamDepends
TeamDepends's picture

Even the parrot won't poop on the FOMC.

Sat, 03/01/2014 - 19:29 | 4495029 alfred b.
alfred b.'s picture


    ....try saying that to the puppet supposedly in charge!    Or is it the Excuser in charge?


Sat, 03/01/2014 - 19:29 | 4495031 Gaurden
Gaurden's picture

Looks like you have a bad case of liars.

There is no cure.

Sun, 03/02/2014 - 13:51 | 4497643 SDShack
SDShack's picture

The cure for a sociopath is what it has always been. Establish the rule of law equally for all. No separate law for elites, and a different law for the masses, and enforce the law judiciously and equally for all. Absent that, the only other option is revolution. History almost always involves the second choice.

Sat, 03/01/2014 - 19:36 | 4495039 Robot Traders Mom
Robot Traders Mom's picture

Glad Whitney clarified good/effective propaganda. And while the Fed disseminates propaganda, I would call these Fed transcripts more of an attempt to rewrite history than blatant propaganda (but still obviously propaganda). And yes, it should be subliminal and not blatant, but the Fed targets the 99% of Americans without a clue, thus their propaganda can be more overt than others. 99% of Americans have no clue what the Fed is, let alone that will read their historical transcripts. Fed propaganda comes from shills like Andrew Ross Sorkin and Rachel Maddow (read: Hollywood types that have more of an audience than an actual clue)... 

Sat, 03/01/2014 - 19:44 | 4495081 Angus McHugepenis
Angus McHugepenis's picture

How to Cure the Propaganda Disease:


Your mind will clear up and you'll start thinking for yourself again within 48 hours.

Sat, 03/01/2014 - 19:59 | 4495113 Yen Cross
Yen Cross's picture

   Angus, you're clearly an thespian, teacher, scholar, analyst, arbitrator<?

    You make "perfect" sense to me!

Sat, 03/01/2014 - 20:00 | 4495118 cynicalskeptic
cynicalskeptic's picture

MOPE - management of perspective economics.......     MANIPULATION OF THE PUBLIC AND THEIR BEHAVIOR BY CONTROLLING THE INFORMATION PRESENTED TO THEM... hence the 'all is well', unemployment is dropping, recovery is underway, housing is recovering, blah blah blah blah 

throw in a few inconsequential prosecutions of relative nobodies in the financial sector and a few fines paid by the big boys (gotta LOOK like people are bing held accountable) andf the hope is that the masses will stay sitting on their couches instead of rioting in the streets

Sat, 03/01/2014 - 20:58 | 4495239 Yen Cross
Yen Cross's picture

   @ cynicalskeptic

  Are you content?

Sat, 03/01/2014 - 21:02 | 4495252 Shad_ow
Shad_ow's picture

Then convince two other people to do the same, ask them to convince two more, and so on. 

Most of my friends and family are somewhat aware of the lies, they just won't let go of the hope it isn't as bad as we know it is.  Knowledge is power to prepare even if we can't stop the inevitable.

Sat, 03/01/2014 - 22:55 | 4495426 Radical Marijuana
Radical Marijuana's picture

Does the Shad_ow "know?"

Since the real world is dominated by a group which are collectively trillionaire mass murderers, who are criminally insane, and good at nothing except being the best professional liars and immaculate hypocrites, whose lies are backed up by the violence of millions of mercenary madmen, I SYMPATHIZE WITH PEOPLE WHO "just won't let go of the hope it isn't as bad as we know it is!"

It is actually way worse than that, since the only genuine solutions would be to operate better murder systems, to back up better money systems, however, the existing ones we have now were already selected by history to become "successful" because they were the maximum possible destruction backed deceits, enabling the maximum possible force backed frauds. Any genuinely better resolutions to our chronic political problems would require the millions of mercenary madmen to become more enlightened about what they are really doing. However, they are necessarily the group of people who are most brainwashed to believe in bullshit, and therefore, the last ones enabled to understand their own reality.

It is actually already trillions of times worse, and headed towards being quadrillions of times worse, since the international banksters that made and maintained their systems have lost control over their own systems, which they no longer are able to comprehend. The banksters that built the current established systems have not only become criminally insane, but also, they have so totally lost contact with more objective realities that there are no ways for them to cope with the problems that they have created. Neither the rulers, nor those they rule over, are able to understand the runaway social insanity situations which exist at the present time! Hence, the overall situation is not only worse than we know it is, it is worse than we can imagine it is!

Sun, 03/02/2014 - 06:53 | 4496374 Element
Element's picture

Hitler pointed out in 1923 that there are three main types of people in society.

The first-type is by far the largest group, those who are dull enough and credulous enough to believe everything they are told without resistance.

The second-type is a significant minority who believe most things up to a point, but are smart enough to detect poorly concealed lies, but then end up believing almost nothing once they detect that they are being deliberately lied to by the State and media, so often become radicalized and the State struggles to manage and control this type.

The third-type is a tiny minority who believe nothing at all, they examine everything each time, take nothing at all for granted, and are difficult to fool for long.

Hitler identified that only the first type mattered politically, in a democracy, and that all propaganda should be directed towards them. The second group could be suppressed and maybe coerced into compliance, or imprisoned, etc. The third type were very valuable, but dangerous, and if they would not cooperate it was best to be rid of them.

The Communists did pretty much the same thing, and the intelligentsia really got purged.

The West followed much the same pattern but it found slightly more constructive methods to better manage or accommodate the second type, and to find a use for the third type.

But Govt policy is always the "free choice" of the first-type, and they were always fully informed, in advance, of what their opinions would be on any issue, so that the correct democratic choice was always voluntarily made.

Works great!

Thus GW Shrub and Bazza Obozo.

i.e. you only need bother with a 'leader' and an MSM that can accommodate the 'needs' of the first-type.

This why TV and politics both suck-ass, most people seem to act like drones, the police dress like Darth-Vader clones, and the FED and TBTF banks blatantly rip-off the public with no trouble at all, and why 9-11 was done by al-qaeda.

So for the propaganda to actually stop working within this sort of heavily controlled propaganda friendly environment, the politics and MSM have to be really blatantly composed of a stunning number of totally absurd contradictions and brimming full of flat-out lies, day-in and day-out, for about half a century or more, before the first-type in society begins to suspect that maybe something ain't quite right.


Welcome to 2014

Sun, 03/02/2014 - 09:17 | 4496601 mvsjcl
mvsjcl's picture

"...and why 9-11 was done by al-qaeda."


Your conclusion needs work.

Sun, 03/02/2014 - 09:49 | 4496642 Element
Element's picture

If your prodigious imagination can conjure a conclusion out of that, that's you making a 'conclusion', not me presenting one.

Sun, 03/02/2014 - 11:01 | 4496866 mvsjcl
mvsjcl's picture

Perhaps I'm reading it wrong, Element. But it read to me as if you were affirming that the 19 hapless arabs were the perps of 9/11. I'll re-read it.

Mon, 03/03/2014 - 08:49 | 4500847 Element
Element's picture

You were reading it wrong. ;)

Sun, 03/02/2014 - 11:11 | 4496907 mvsjcl
mvsjcl's picture

And btw, it's been a while since anyone has bestowed on me the complement that I'm in possession of a prodigious anything, much less an imagination! So thank-you. :-)

Sat, 03/01/2014 - 23:24 | 4495262 KickIce
KickIce's picture

Don't forget Hollywood and their outrageous plots such as zombies/aliens that then proceed to portray how only government can save the world.  Then there's shows like NCIS that show how trustworthy and honest government officials are.  It shows them continueosly violating indivdual rights but it's okay since they're doing it to catch bad guys.

Sun, 03/02/2014 - 08:32 | 4496534 Zadig
Zadig's picture

Good point.  It's a constant stream of propaganda and conditioning. 

Sun, 03/02/2014 - 08:58 | 4496570 Oldwood
Oldwood's picture

As Barney Frank once said, their actions cannot be unconstitutional as they are only trying to help the American people. When you only have goodness in your heart you can do no wrong, no matter how many million people's lives you completely fuck over.

Sun, 03/02/2014 - 09:01 | 4496576 overmedicatedun...
overmedicatedundersexed's picture

oldwood, you forgot to add, and barney gets his man play toys in fanny (ha ha) and freddy (lol), while bribes from ws banks roll in to add the cherry on top.

Sat, 03/01/2014 - 19:33 | 4495048 mt paul
mt paul's picture


with license  ...

Sat, 03/01/2014 - 20:27 | 4495184 superflex
superflex's picture

Bob had it right about these leeches.

Sat, 03/01/2014 - 19:35 | 4495050 GooseShtepping Moron
GooseShtepping Moron's picture

The return of the modified limited hangout.

Sat, 03/01/2014 - 23:48 | 4495757 Greenskeeper_Carl
Greenskeeper_Carl's picture

"Maybe they should try reading books instead of burning them"

Sun, 03/02/2014 - 08:59 | 4496573 Oldwood
Oldwood's picture

I would rather just be "told" what to think. Reading is so "yesterday".

Sat, 03/01/2014 - 19:36 | 4495056 no more banksters
no more banksters's picture

Same as IMF tactics. It is better to appear unreliable than to let people understand that you serve specific interests:

Sat, 03/01/2014 - 20:18 | 4495161 bunnyswanson
bunnyswanson's picture

Arseniy Yatsenyuk has DUAL citizenship.  A fucking banker.


"Yatsenyuk, 39, is a millionaire former banker who served as economy minister, foreign minister and parliamentary speaker before Yanukovych took office in 2010. Widely viewed as a technocratic reformer, he appears to enjoy the support of the U.S.

The top U.S. diplomat for Europe, Victoria Nuland, was overheard discussing Yatsenyuk and other Ukrainian opposition figures in a bugged phone called that was leaked, saying "I think Yats is the guy who's got the economic experience, the governing experience."

One of the first jobs for Yatsenyuk and other members of his new Cabinet will be seeking outside financial help from the European Union and the International Monetary Fund. Economists say Ukraine is close to financial collapse, with its currency under pressure and its treasury almost empty. The acting finance minister has said Ukraine will need $35 billion in bailout loans to get through the next two years."

Read more:
Sat, 03/01/2014 - 19:40 | 4495068 monad
Sat, 03/01/2014 - 19:42 | 4495074 Bastiat
Bastiat's picture

First read that in the 70s and never forgot.

Sat, 03/01/2014 - 19:54 | 4495101 monad
monad's picture

Every evil thought, act, lie contains within it the seeds of its own destruction. Evil covering evil compounds, let us say due to the limited conception of math humans have, exponentially.
Justice is assured.

Sat, 03/01/2014 - 20:02 | 4495120 john39
john39's picture

But it can take awhile to play out. Lifetimes... Scores of lifetimes... All of recorded history, and all that has been erased.

Sat, 03/01/2014 - 20:23 | 4495171 monad
monad's picture

Gee. Lifetimes. Banksters did not sprout from septic ponds as the wee popes do, they pursue their family interests, which includes occluding all other families. Unfortunately for them mutation is not arbitrary and sports correcting their idiocy do occur, up to and surpassing extinction events. Think about this when you're serving the Lord of the Flies, Loyd.

Sun, 03/02/2014 - 08:03 | 4496502 new game
new game's picture

a most relavant comment-cuts to the core issue of being a dupe.

j lennon sang, controllers scipted it, the majority believe...

let the true spirit live in all of us...

(from the 7 natural laws)not the man contrived subliminal control systems!

final word...lurker-bye..............................

Sun, 03/02/2014 - 08:27 | 4496529 negative rates
negative rates's picture

Tell me those are the "published ones", but why do we neglect the without publication ones, I wonder?

Sun, 03/02/2014 - 09:26 | 4496617 mvsjcl
mvsjcl's picture

Powerful stuff. No wonder they had to "put him away."

Sat, 03/01/2014 - 19:43 | 4495079 earleflorida
earleflorida's picture

excellent read


Sat, 03/01/2014 - 19:44 | 4495080 wmbz
wmbz's picture

So what can be done about it? Not a damn thing. Voters are moron dupes that elect well paid off puppets over and over again, in hopes of "free stuff" scraps.

 To screw over the rich guy. Riiiiiight.

 The cartel owns the system, period.

CYA the best you can and fly at tree top level. Fuck them all!

Sun, 03/02/2014 - 09:12 | 4496594 Oldwood
Oldwood's picture

"fuck them all".

I think that is pretty much what has gotten us this far. Pursuing one's self interest is absolute. The problem is understanding what that is. Propaganda seeks to define that for us. All systems rely on people pursuing their own self interests, or at least what they believe to be so. How we spend our earnings is the strongest vote we make in that pursuit yet few really think much about "why" they want and buy what they do. We are effectively being drowned by non-stop manipulation with no way to not be influenced in some way. We can easily see it in others while remaining largely unaware of its presence in ourselves.

Sat, 03/01/2014 - 19:48 | 4495083 AdvancingTime
AdvancingTime's picture

The more and more I study this the more it appears the goal of QE has been to hold up the underlying value of assets that feed into and support the massive derivative market. It is possible that the main goal of QE was to stop an implosion and contagion throughout the financial system and not to drive the economy forward. As we all know QE has distorted markets more than it has helped economic growth. I'm working on an article about this but until it is published the link below shows a hard to believe disaster in the wings, it is about derivatives.

Sat, 03/01/2014 - 19:58 | 4495111 satoshi123
satoshi123's picture

The USA BK'd in 1972, when it went off the gold-standard.

Since then th US gubmint borrowed money from the FED, in terms of Treasury Debt, but that became astronomical in the Trillions.

Then skip ahead to 2008 when all borrowing power of US-Government was lost, then forward now all DEBT is serviced by QE.

Does away with Congress, and essentially the entire notion of US government getting on its knees and suck taxpayer cock.

NWO is here, and GUBMINT can print infinite FIAT, and the public are just little bitch 'eaters', the USA has farmed off its jobs, and nobody  but hangmen, judges and cops has a future in the USA.

Why did it happen because the USA wanted to be the Reserve Currency, but they also wanted to have it 'all',

The FED Narrative is bogus, but you all need to peel back the ONION and realize that everything in the USA is bogus, the US Congress, the Prez, and all Federal institutions, they're just playing along to the MSM and continuing an Alice in Wonderland narrative that the taxpayer still feeds the system. He doesn't.

Was it done to cover Derivatives and worthless mark-to-mark assets YES, and YES, but really it was done to feed the NSA/CIA/DHS, all the other NAZI control mechanisms INFINITE budget to control the US people and tomorrow the world.

How long will this pathetic narrative last? Yellen, the FED, and US-Debt funded by taxpayers and that the US governments gets its money to run from the people via the IRS,... How long will this URBAN myth continue? Probably until they switch over to the IMF-SDR.



Sat, 03/01/2014 - 20:04 | 4495123 cynicalskeptic
cynicalskeptic's picture

All 'representative' gopvernments eventually FAIL when the people realize they can get their representatvies to give them 'free stuff' funded by government.  Peopel are greed and short sighted, wanting whatever they can get while failling to see that NOTHING is 'free' and the truth is they are paying for all they get from government (and at an obscenely high price).


Sat, 03/01/2014 - 20:43 | 4495202 monad
monad's picture

You are overanalyzing. QE steals from producers and "redistributes" by "tax" their "surplus" to social engineering targets, all socially engineered targets being in the skittle shitting universes the frauds pretend exist. All you need to do is look after you.

Sat, 03/01/2014 - 23:31 | 4495365 ricky663
ricky663's picture

QE solves other legal probems as well >>> Catherine Austin Fitts discusses QE and the fraud in the derivatives/MBS here:
Why was MERS created by the banks,?
Why have millions of clouded residential RE titles been swept under the rug via "deals" made between the banksters and our "Justice" Departments/State AGs?
Why no criminal prosecutions for blatant mortgage fraud by the Banksters?
Why is the Fed buying billions in worthless fraud-ridden MBS still?
These important points should be discussed in your article IMO.

On another note....Every now and then I wonder if most of the debt based system is one giant fraud/lie being foisted upon the muppets to keep them on the debt train.
I am not saying that all of the money spent by government is unnecessary, but has anyone actually done an audit of the US government books (especially debts) to ensure veracity?

Sun, 03/02/2014 - 08:36 | 4496541 MathWins
MathWins's picture

AdvancingTime - I think you are dead on.  There are a bunch of worthless dirivatives at the bottom of this stink hole.  If their true value was acknowledged, the system would implode with a big bang.

Sun, 03/02/2014 - 14:13 | 4497723 SDShack
SDShack's picture

So what? Did derivatives stop forced bail ins by Greece and Cyprus? Did derivates stop forced bail outs of AIG using TARP... TARP that was never appropriated for insurance companies like AIG? Was hundreds of years of bankruptcy law followed in the bailout of Government Motors and Communist Motors? Derivates are just a function of basic contract law, and what the entire world has shown, is that the rule of law is worthless now. Sociopaths run the world. They will lie, cheat, steal, and destroy everything, I mean everything, and everyone to win. These derivates that everyone thinks will destroy the corrupt system will be disappointed when TPTB either just ignore the trigger mechanism, or more likely, bribe the politicians to just pass another law to skirt their trigger. Extend and pretend to infinity and beyond. If you believe the rule of law will be followed to trigger derivates, then why has the rule of law been obliterated in virtually every decision by TPTB up to now? The truth is "There is no spoon", ie. There is no law...for the eiltes.

Sun, 03/02/2014 - 13:44 | 4497619 Albert_
Albert_'s picture

Well, this was no secret, so there is no gran scheme here!

Sat, 03/01/2014 - 19:54 | 4495098 UselessEater
UselessEater's picture

preparation propoganda for a set-up crash in 3, 2, 1..... to who/what will they direct blame in this game plan?

Sat, 03/01/2014 - 19:55 | 4495105 Oldwood
Oldwood's picture

They always must lie for our own good and their even more good. Funny how that works...every fucking time.

Sat, 03/01/2014 - 19:56 | 4495108 buzzsaw99
buzzsaw99's picture

very few people care about that crap. as long as their credit card will get them a tank of gas and some bling bling off ebay they don't care.

Sat, 03/01/2014 - 20:00 | 4495119 Yen Cross
Yen Cross's picture

  Buzz, I love you MOAR every day!

Sat, 03/01/2014 - 19:59 | 4495112 kill switch
kill switch's picture

This is it

Sat, 03/01/2014 - 20:00 | 4495115 fzrkid
fzrkid's picture

which $750 billion bailout are they talkign about? The one under bush or obama?


I thought those funds were supposed to be used to shore up some of th ebanks books but instead the FEd bought company stock with it...





Sat, 03/01/2014 - 20:00 | 4495117 blindman
blindman's picture

More Than Eva Braun

Sat, 03/01/2014 - 20:05 | 4495129 Stuck on Zero
Stuck on Zero's picture

Any board of governors, Senate, BoD, or committe that is doing its job well will have meetings that are noisy, contentious, argumentative, and quite raucous.  If the meeting minutes record businesslike and affable behavior they are all getting together behind the scenes to shaft someone.  I am drawing on a lot of personal experience to state this.


Sat, 03/01/2014 - 20:06 | 4495130 Seasmoke
Seasmoke's picture

Washington Ben needs to have the same fate as Baghdad Bob

Sat, 03/01/2014 - 20:14 | 4495150 negative rates
negative rates's picture

Well lets send him to ben sin hurst!

Sat, 03/01/2014 - 20:07 | 4495131 ebworthen
ebworthen's picture

Baghdad Bob had nothing on Beltway Ben.

The propaganda and the silent coup to destroy The Constitution began in earnest in 1913 with the establishment of the FED and the income tax.

Sat, 03/01/2014 - 20:19 | 4495164 kurt
kurt's picture

Jeepers, how do they afford all that expensive propaganda. You'd have to have pretty deep pockets. 

Besides with oversight, this couldn't happen.

Sat, 03/01/2014 - 20:22 | 4495175 chunga
chunga's picture

Given Mr. Paulson’s well-established penchant for cagey and mysterious conduct, I have to give him credit for having the crusty gall to play the moral hazard card.

Remarks by Secretary Henry M. Paulson, Jr. U.S. Housing and Mortgage Market Update Mar. 3, 2008

“And let me emphasize, any homeowner who can afford his mortgage payment but chooses to walk away from an underwater property is simply a speculator – and one who is not honoring his obligations.”

Really? Henry Paulson (aka “Hank the Shank”) a former Goldman Sachs CEO for eight years has a sudden animosity towards speculation? The Goldman Sachs firm is practically synonymous with the word speculation. Paulson was so cooperative he had to be sued!

Coming in a close second place in the crusty gall department would have to be John A. Courson, President and Chief Executive Officer of the Mortgage Bankers Association (MBA). Courson has been involved in the mortgage industry for more than 40 years and served as Chairman of MBA in 2003.

Apparently, the Mortgage Bankers Association found themselves thirty-seven million dollars underwater in their posh headquarters building, and then recklessly walked away despite being able to afford it. The comments from these bad actors are priceless. (The headline of the story below does the best it can to exculpate them from humiliation because they don’t actually admit to any loss; they’d just rather decline to provide any details)

Like millions of American households, the Mortgage Bankers Association found itself stuck with real estate whose market value has plunged far below the amount it owed its lenders.




But the trade group for mortgage lenders is refusing to say exactly how it extracted itself from that predicament.



John Courson, chief executive officer of the trade group, declined in an interview Saturday to say whether the MBA would pay off the full loan amount.



"We're not going to discuss the financing," he said. A spokeswoman for the MBA added that the MBA has reached "an agreement with all relevant parties" [this statement suggests taxpayers are not fucking relevant] regarding the outstanding amount on that loan but declined to provide any details.


A spokesman for PNC, a banking company based in Pittsburgh, declined to comment.


In an interview late last year, Mr. Courson said he believed mortgage borrowers should keep paying their loans even if that no longer seemed to be in their economic interest. He said paying off a mortgage isn't only a matter of personal interest.


Defaults hurt neighborhoods by lowering property values, Mr. Courson said. "What about the message they will send to their family and their kids and their friends?" he asked.

Mortgage Bankers Association Sells Headquarters at Big Loss

The pious hypocrisy above speaks for itself and requires no commentary. Furthermore, all their moral hazard cards have been debunked over and over as a stacked deck full of cheap tricks. Nail gun every one of these fucks.


Sat, 03/01/2014 - 20:31 | 4495195 Oldwood
Oldwood's picture

The true moral hazard is that they are destroying all morals, the thing that holds a society together.

Sun, 03/02/2014 - 14:16 | 4497749 SDShack
SDShack's picture

It's what sociopaths do. They have no morals, ethics, or compassion. They are the true destroyers of society.

Sat, 03/01/2014 - 20:35 | 4495206 Seasmoke
Seasmoke's picture

I would like to actually thank Hank, that crooked finger crook, fir waking me the fuck up from my 40 year slumber .....his hypocrisy, for whatever reason, was my own personal tipping point...I look forward to his demise   

Sat, 03/01/2014 - 20:51 | 4495228 Yen Cross
Yen Cross's picture

  Chunga, this is a bit off-topic. That link regarding : building a cabin was fantastic!

Sat, 03/01/2014 - 21:06 | 4495261 chunga
chunga's picture

It sure is, everybody seemed to like his blog.

His name is Tim and he told me he was going to get a ZH account lol! Dude has got some skills and he seemed like he was having fun doing that. Notice the beer cans ha! I'll paste his link again if anybody else is interested. (It's a blog about how a man builds nice house real cheap)

Sat, 03/01/2014 - 21:27 | 4495302 Yen Cross
Yen Cross's picture

 That man and his family are truly inspirational! Thank You for sharing that link Chunga.

Sat, 03/01/2014 - 20:36 | 4495183 kchrisc
kchrisc's picture

Only criminals have to propagandize, lie, about crimes.


"Gray is just a shade of black and white."

Sat, 03/01/2014 - 20:30 | 4495193 Kirk2NCC1701
Kirk2NCC1701's picture

One of the best ways to fight propaganda is with Truth that is spread via grassroots connections.

Teach them the truth about Money, Currency, fiat Debt, private banking cartels.

Sat, 03/01/2014 - 21:08 | 4495265 kchrisc
kchrisc's picture

"One of the best ways to fight propaganda is with Truth that is spread via grassroots connections."

Yes and no. One must know what they believe first. If one does not firmly believe in Liberty for himself and neighbors then he is easily swayed by arguments of slavery for himself disguised as controls against his neighbors.

Sun, 03/02/2014 - 14:28 | 4497791 SDShack
SDShack's picture

To the point, teach a 20-something about it, preferably one that is concerned about their future. Exploit their perceived dead end existence by educating them why it is so. Who is really pulling the strings and why, and how they are being groomed to be a serf in the New Feudal World Order. Why target the youth? Because they are connected like no other youth before them because of the social networks. Having only a minority of youth engaged is the spark needed to drive change. Educating one means educating exponentially more. Revolution is almost inevitable at this point. If we don't try to use the youth as an instrument of righteous change, the youth will eventually be corrupted to revolt to be just a slave to TPTB.

Sat, 03/01/2014 - 20:35 | 4495205 Cacete de Ouro
Cacete de Ouro's picture

When you read real internal minutes of historic BIS meetings and Bank of England meetings you realize that the FOMC transcripts are a pile of sanitized poop

Sat, 03/01/2014 - 21:26 | 4495300 negative rates
negative rates's picture

Yea it's pretty much like a timex, takes a lickin, but keeps on tickin.

Sat, 03/01/2014 - 20:42 | 4495216 blindman
blindman's picture
king world news & p.c.r.
pcr describing the incredible stupidity and
hubris coming out of the occupied by bankster
washington d.c. complex of lying and incompetent
half wits pretending at being leaders, representatives
and legislators; and all for the love of debt slavery.
go figure?
the fed and the owners of the fed know very well they
are the beneficiaries of the most successful ponzi scam
in the history of the world, like caesars, julius, of
old. it is a feature, a system and plan, not a flaw
or mistake; it is also incomprehensible that it could
exist in all it's blatant, brash and evil hubris.
notice the absence of any humility whatsoever of the
fed owners having been gifted and bailed out to the
tune of trillions of dollars since 2008. they "earned"
it/that for adhering and promoting debt servitude to the
many, making them debt slaves , like the irish of the 17th century,
to sell their own into slavery, not to mention the current

Sat, 03/01/2014 - 20:48 | 4495223 blindman
blindman's picture

guns and butter.
Friday February 28 9:00am
listen and learn here.
alternate link.

Sat, 03/01/2014 - 20:53 | 4495231 blindman
blindman's picture

Jackson Browne - Doctor My Eyes + lyrics
" ..i got this feeling that it's later
than it seems. " .. j.b.

Sat, 03/01/2014 - 21:51 | 4495328 chunga
chunga's picture

Ever hear this guy? (Kenny Tudrick)

Sat, 03/01/2014 - 22:21 | 4495389 blindman
blindman's picture

just now the first for me.

Sun, 03/02/2014 - 09:33 | 4496636 jane says
jane says's picture

Not bad Mr. Chunga, a little mellow for a Saturday night though.

Sun, 03/02/2014 - 10:43 | 4496807 chunga
chunga's picture

-1 (lol)

Sat, 03/01/2014 - 20:56 | 4495236 Space Animatoltipap
Space Animatoltipap's picture

Many people think that other people are "honest". It's true, many people are stupid. And very dependant on others. The latter is most risky in Kali Yuga. Luckily there is God, the Absolute Truth. But also for understanding the Absolute Truth they are just too stupid. Kali Yuga is just bad times and bad luck for many.

Sat, 03/01/2014 - 21:17 | 4495287 kchrisc
kchrisc's picture

The problem of God, is that he is interpreted by man.

No matter what you believe, if you have to force it upon people, then you are wrong.

[I said "force" not "discuss."]


"If my neighbor isn't doing it to me against my will, then I don't care."

Sun, 03/02/2014 - 15:01 | 4497936 SDShack
SDShack's picture

No matter what you believe, if you have to force it upon people, then you are wrong.

[I said "force" not "discuss."]

 "If my neighbor isn't doing it to me against my will, then I don't care."

That is the philosophy of an anarchist, not a citizen. Not even the lowest form of society, the tribe, can exist in such a philosophy. All societies are built on the rule of law, and the decsion by the citizens to support that law, and to use force if necessary to remove those from society that will not adhere to the law. Where the law comes from is immaterial, but ideally, the strongest and longest lived societies are formed by the majority setting the rule of law for the benefit of all.

What we have in today's society is a rule of law by the elites for the masses. Separate laws for separate classes. The elites are not subject to their own laws that they force on the masses. That is leading the masses to propose your society that wants to do whatever it wants so long as no one is hurt. That is an oxymoron since by definition, every citizen is connected in a society.

In today's reality, there are 2 possible outcomes. Either TPTB will force more rules and regulations onto the masses to control the society more and more and tamp down rebellion. Or the masses will acheive what you advocate, every citizen free to do as they please. Either way. society breaks down. 

Anarchists only destroy, they never build. "No matter what you believe, if you have to force it upon people, then you are wrong." How can you build a society based on a philosophy at war with itself?

Sat, 03/01/2014 - 21:00 | 4495247 Lumberjack
Lumberjack's picture

Syria’s Chemical Weapons Stockpiles to be Transferred to the Italian Mafia?

Does the disposal of Syria’s chemical weapons by the two selected waste disposal companies, namely Finland’s Ekokem and France’s Veolia require a contractual arrangement (or “agreement”) with Italy’s most powerful criminal syndicate on behalf of the Nobel Peace Prize winning Organisation for the Prohibition of Chemical Weapons (OPCW)?

Read down. Its a long saga…

On September 12, last year, Syria’s President al-Assad committed to surrender Syria’s chemical weapons, with the caveats that the United States must stop threatening his country and supplying weapons to the terrorists. He has been as good as his word. The same cannot be said for the US and its boot licking allies.

Three days earlier US Secretary of State John Kerry – who had been killing Vietnamese in the US onslaught on Vietnam as American ‘planes rained down 388,000 tons of chemical weapons on the Vietnamese people (i) – had threatened Syria with a military strike if the weapons stocks were not surrendered within a week, stating that President Assad: “isn’t about to do it and it can’t be done.”…

All in all, why was Albania considered?

It is surely coincidence that on 3rd October last year, Tony “dodgy Iraq dossier” Blair, also an enthusiastic backer of Washington and NATO in their Balkans blitz, was appointed as advisor to the Albanian government to advise the impoverished country how to get in to the EU. Heaven forbid he might have advised that taking on lethal weapons no one else was prepared to touch, might tick quite a big approval box and made a call to someone somewhere in Washington. This is of course, entirely speculation.

However, as Pravda TV opined at the time, apart from the sorely needed financial boost: “It will increase the status and prestige of a poor country in Europe, Albania is in Europe’s backyard, in this case it will be going foreground.”(iv)

Belgium and France also Decline: “There Remain very few Candidates” for the Task; “the Hunt Continues”

Belgium and France also declined an invitation to dispose of Syria’s weapons, with Ralph Trapp, a consultant in disarming chemical weapons quoted as saying that “there remain very few candidates” for the task; “the hunt continues” commented The Telegraph (18th November 2013.)

The trail goes cold as to how many other governments may have been frantically begged to accept cargo loads of poisoned chalices as the US imposed clock ticked, but Italy caved in allowing around sixty containers to be transferred from a Danish cargo ship to a US ship in the Italian port of Giola Tauro, in Calabria, with further consignments also expected to arrive.

The permission caused widespread demonstrations in Southern Italy, the government accused of secrecy and one demonstrator summing up the prevailing mood:

“They are telling us that the material carried is not dangerous, but in fact nobody knows what is inside those containers.”

Not dangerous eh? Does any government, anywhere ever tell the truth?

Italy Says Yes. Not Dangerous. Send the WMD to Calabria. It will Help the Local Economy, But Watch Out for the Calabrese Mafia

The Giola Tauro port (right), which accounts for half the Calabria region’s economy “has been in crisis since 2011”, with four hundred workers on temporary redundancies- out of a total workforce of thirteen hundred. Not too hard to arm twist, the cynic might think.

The port also suffers from allegations of being a:

“ major hub for cocaine shipments to Europe by the Calabria-based ‘Ndrangheta mafia.” However, Domenico Bagala, head of the Medcenter/Contship terminal where the operation is planned countered with: “Since Gioia Tauro handles around a third of the containers arriving in Italy, it is normal that it has more containers that are seized”, adding: “We operate in a difficult territory but we have hi-tech security measures in place.”

Calabria is, in fact, plagued by corruption and organized crime. A classified cable from J. Patrick Truhn, US Consul General in Naples (2nd February 2008) obtained by Wikileaks stated:

“If it were not part of Italy, Calabria would be a failed state. The ‘Ndrangheta organized crime syndicate controls vast portions of its territory and economy, and accounts for at least three percent of Italy’s GDP (probably much more) through drug trafficking, extortion and usury.” Further: “During a November 17-20 visit to all five provinces, virtually every interlocutor painted a picture of a region …throttled by the iron grip of Western Europe’s largest and most powerful organized crime syndicate, the ‘Ndrangheta.”(v)

Moreover:“The ‘Ndrangheta is the most powerful criminal organization in the world with a revenue that stands at around fifty three billion Euros (seventy two billion U.S. dollars – forty four billion British pounds)” records Wikipedia, noting operations in nine countries, on four continents. Arguably, a less ideal transit point than Calabria for a stockpile of chemical weapons would be hard to find.

Of special concern to Carmelo Cozza of the SUL trade union is the port’s neighbouring village of San Ferdinando which has protested the operation: “The schools are right next door!”(vi)

However, when it comes to dodgy dealings, organized crime could seemingly learn a thing or two from the EU. Large amounts of Syria’s financial assets, frozen by the European Union, have simply been spirited from accounts, in what the Syrian Foreign Ministry slams as: “a flagrant violation of law.”

Last week the EU endorsed the raiding of Syria’s financial assets frozen across Europe and the the transfer of funds to

“ … the Organization for the Prohibition of Chemical Weapons (OPCW) … a flagrant violation of the international law and the UN Charter and understandings reached by the executive board of the OPCW”, commented a Foreign Ministry source, adding: “the European step violates the resolution of the OPCW executive board adopted on 15thNovember 2013 which acknowledged Syria’s stance which was conveyed to the Organization, officially stating the inability to shoulder the financial costs of destroying the chemical weapons.”

The theft of Syria’s moneys was condemned as a: “swindle policy practiced by some influential countries inside the EU at a time when they reject to release frozen assets to fund purchase of food and medicine which is considered the priority of the Syrian state … (meanwhile) the EU allowed its members to arm the terrorist groups which are responsible for bloodshed in Syria … ” the source added.”(vi) It is hard to disagree.

The EU/UN/OPCW has apparently learned well from the UN weapons inspectors and other UN benefits from the Iraq embargo, which bled the country dry from “frozen” assets, to which they helped themselves, as the children died at an average of six thousand a month year after year, from “embargo related causes.” As the UN spent Iraq’s moneys, Iraq’s water became a biological weapon, the lights went off and medical and educational facilities largely collapsed. Are UN embargoes the UN’s shameful new money spinner?

So, can things get worse in the black farce which is the chaotic, dangerous, disorganised disposal attempts of Syria’s chemical materials? You bet they can.

The companies selected to destroy the chemicals are Finland’s Ekokem and the US subsidiary of the French giant Veolia.

More info here:

More to come….

Sat, 03/01/2014 - 21:14 | 4495279 Clowns on Acid
Clowns on Acid's picture

So that's why the Ukraine should want to be in the EU rather than Russia. Putin and Russia are soooo corrupt.

Sat, 03/01/2014 - 21:26 | 4495301 Atomizer
Atomizer's picture

Painful to watch. Important to see. This all latches onto climate change and Project Venus.




Sat, 03/01/2014 - 21:29 | 4495308 Yen Cross
Yen Cross's picture

 Atomizer,  "The best of the Best".

Sat, 03/01/2014 - 22:30 | 4495404 Atomizer
Atomizer's picture

This shit is never taught in history class. Give this guy credit from coming out of Harvard as a commie trained infidel, exposing what he learned.

Sat, 03/01/2014 - 21:41 | 4495317 holdbuysell
holdbuysell's picture

Outstanding spot-on rant. I needed that.

Sat, 03/01/2014 - 21:59 | 4495338 holdbuysell
holdbuysell's picture

To paraphrase Kyle Bass:

"Governments will never tell you the truth; they can't tell you the truth. They are there to promote confidence."

Central banks are none different.

Prepare accordingly for the next wave of credit collapse from this egregious mal-investment that can't be supported by underlying productive effort.

Sat, 03/01/2014 - 22:03 | 4495344 Son of Captain Nemo
Son of Captain Nemo's picture

Greatest Propaganda Coup "financially"? Debatable.

Especially with the one that preceded 9/11 and then destroyed all the evidence in those 3 buildings that started open-ended invasions and occupations and created an emergency doctrine that we still enjoy.

Let's just say that 9/11 helped grease the skids for TARP!


Sat, 03/01/2014 - 22:03 | 4495345 dexter_morgan
dexter_morgan's picture

Not to sound like a birther, but couldn't the whole fabrication of Obama's origins landing him as president of the most powerful nation in the world be considered the greatest 'coup', I mean propaganda coup of all time? Just askin.......

Sat, 03/01/2014 - 23:22 | 4495580 Radical Marijuana
Radical Marijuana's picture

My response, dexter:

Nothing else in the annals of organized crime compares to legalizing privatized fiat money, made out of nothing, as debts, which the government forces everyone else to accept. The international banksters' ability to make money out of nothing as debts, while governments enforce that as the STATE RELIGION, is orders of magnitude greater than any previous system of organized lies, operating organized robberies. Legalizing the counterfeiting of the public money supply by private banks is the greatest feat of organized crime during known human history. Obama is merely the latest political puppet performing on that stage, and therefore, nothing he did is remotely close to being comparable to the propaganda routinely pumped out by the Federal Reserve Board, as the symbolic King of Fraud.  NOTHING ELSE COMPARES TO GLOBALIZED ELECTRONIC FRAUDS, BACKED BY ATOMIC BOMBS!

Sat, 03/01/2014 - 23:22 | 4495642 dexter_morgan
dexter_morgan's picture

Good points. I can't disagree.

Sun, 03/02/2014 - 00:46 | 4495985 Radical Marijuana
Radical Marijuana's picture

O.K. ... Meanwhile, dexter, I also agree that there is plenty of reasonable doubt whether Obama has the legal right to be President. However, again, what is a treasonous President compared to the constitutional provisions that said American money was supposed to be backed by gold and silver, whose value was set by Congress, gradually changing into being backing the nothing, and now almost totally issued as fiat electronic code by private banks?

In comparative terms, what is the plausible, and I believe probable, ineligibility of Obama to be President under the constitution compared to the Federal Reserve Board creating tens of trillions of dollars out of nothing, and giving lots of that away to foreign banks?

There was a time when I thought it hard to imagine a President worse than Baby Bush. But nonetheless, Obama has proven that was possible. I shudder to think how it may be possible for the next President to become even worse than Obama. However, as long as the international banksters continue to effectively dominate the government of the USA, as they have, more and more, for over a Century, it is NECESSARILY THE CASE THAT THE NEXT PRESIDENT WILL BE WORSE THAN THE PREVIOUS ... FOR AS LONG AS PRESIDENTS ARE STILL POSSIBLE TO EXIST ...

Sun, 03/02/2014 - 10:22 | 4496738 fijisailor
fijisailor's picture

Don't get preoccupied with who is president.  It's always been desired for you to get distracted.  The banker/corporate master plan will be implemented no matter who is president.

Sat, 03/01/2014 - 22:03 | 4495346 Duc888
Duc888's picture

Hey man, Oblabla is our President.


He was (s)elected as our leader,   "hope and change" and all that.


Keep dremin' the dream.


Stupid fukkerz.


rally on.

Sat, 03/01/2014 - 22:18 | 4495361 Duc888
Duc888's picture

Dexter : "Not to sound like a birther, but couldn't the whole fabrication of Obama's origins landing him as president of the most powerful nation in the world be considered the greatest 'coup', I mean propaganda coup of all time? Just askin......."


Gee hoss.  Lemme think a minute.

 Fujkker came outta nowhere.   Can't be touched 'cause he's 1/2 black.   Can't get a copy of his college transcript.  Junior Senator in the banking commitee, most powerful commetee evaaaa..     Never even ran a fukken Lemonaide stand.

Yea you idiot, nuthin' top see here.  All "hope and change".

You're a moron.

Nuthin'ee here.  Keep Votin' 'cuse it's the 'Murican thing to do.

Consent to ther assrape.


Go for it.

Sat, 03/01/2014 - 22:27 | 4495417 dexter_morgan
dexter_morgan's picture

OK....I thought I was saying that his election WAS the greatest coup of all time.

Ya know, information like this and stuff?

Sat, 03/01/2014 - 23:01 | 4495528 Downtoolong
Downtoolong's picture

And even if the NYT’s assessment of the transcripts were correct about the Fed’s lack of knowledge and inability to contain or prevent the financial crisis, doesn’t that make the Fed the least likely organization to ever be able to prevent another one?

-We’ve correctly assessed why things went wrong.

-We understand the consequences of what we’re doing now.

-The social benefits of our actions outweigh the costs.

-Our primary concern is the health of the U.S. economy.

-We must exist.

When you’re underlying assumptions are obviously erroneous, everything else you say is just blather.

Sat, 03/01/2014 - 23:23 | 4495648 Duc888
Duc888's picture



Clowns on acid: "So that's why the Ukraine should want to be in the EU rather than Russia. Putin and Russia are soooo corrupt."


Holy fuck bro.  EU is vapor.  A bullshit organization if there ever was one.  Bankster created.


How about the novel idea of of people not lording over other people.  I guess that does not fit into your red pill / blue pill dogma, the whole Dumocrat / Republican bssssssssss meme.


But hey, keep voting, it's the Murican thing to do.


Consent to the assrape.

Sat, 03/01/2014 - 23:25 | 4495660 Duc888
Duc888's picture



Downtoolong:  And even if the NYT’s assessment of the transcripts were correct about the Fed’s lack of knowledge and inability to contain or prevent the financial crisis.


Go sell stupid somewhere else please. Fed created the problem.

Sun, 03/02/2014 - 09:42 | 4496644 Comte d'herblay
Comte d&#039;herblay's picture

WADR, I urge you to join the growing army of those who seek to end using Institutional names as a substitute for the real men and women who have created the disasters whose consequences affect everyone but themselves.

There is no FED, per se.  That's a copout.

Learn the names or substiute the names for "The FED", the Government, and other uselful terms that do hide the truth.  WE know the definition of "is" in spite of those among us who wish pretend there is some nebulous one. 

IT's not the FED!  It's Alan Greenspan, Ben Bernanke, and Janet Yellen as well as the other members of this clandestine operation that have created the problems. 

It's not AIG, or Goldman Sucks, or JP Morgan, it's Jamie Dimon and his Episcopelian brothers on the Board, it's Lord Blankfein, George Soros, it's Jimmy Cayne, and Dick Fuld.  

NAME NAMES!!  Please. The more those names are not permitted to disappear from the narrative, the greater the likelihood that we will remember their faces, their crimes, and decisions to send everyone else into abject poverty while they splash around in the lap luxury in their multiple mansions, floating City-boats, moored to nothing but their own avaricious self-interest.  

Dagny Taggart, and Howard Roark would turn over in their fictional graves should they see what unbridled self-interest taken to these extremes would do to 7 billion people. 

Sat, 03/01/2014 - 23:54 | 4495789 rsnoble
rsnoble's picture

Fuck Ben.

Sun, 03/02/2014 - 00:03 | 4495822 Ned Zeppelin
Ned Zeppelin's picture

You either conclude they are utterly incompetent or dangerous criminals There is no other conclusion.

Sun, 03/02/2014 - 00:51 | 4496009 Radical Marijuana
Radical Marijuana's picture

In my opinion, Ned, after one studies the matter more, it is impossible to believe that they could be that utterly incompetent, but rather, the ONLY conclusion is that they have become dangerous to the point of being criminally insane. They have degenerated from being the top predators to become parasites killing their host, with no end in sight of how much worse that degeneration is going to become!


Sun, 03/02/2014 - 15:07 | 4497960 SDShack
SDShack's picture

See the definition of a sociopath.

Sun, 03/02/2014 - 00:32 | 4495902 Drifter
Drifter's picture

The only relevant aspect of this is what happens to the value of US dollars, and it's heading down.

QE is Weimar style currency printing, and the result will be the same, currency collapse.  Not overnight, but the mark didn't collapse overnight either.

They've managed to delay the parabolic stage using creative shenanigans to hide what's happening, which means the parabolic stage with be brutal when it does happen.

Plus there's a factor Weimar Germany didn't have to deal with, a new gold-backed currency from a major world player in the planning stage.

Interesting how people get emotional satisfaction from bashing the elite.   I see it on many conservative political websites out there, preoccupied with bashing the elite. 

But very few talk about the real issues, how elite's actions affect your life, my life, everybody's life, perhaps because they're in denial, refusing to see the dark picture ahead.

Sun, 03/02/2014 - 03:30 | 4496266 Free Wary
Free Wary's picture

"....preventing the remedies that were needed from being implemented (nationalizing the giant Wall Street banks)...."


Prosecute criminal behavior, Let them go bankrupt and put their assets on the auction block, and break up any monopolies. Nationalizing banks would only lead to more corruption. Take a look at the national banks we already have: Fannie Mae, Freddie Mac, Federal Reserve. Why on earth would you want more national banks?

Sun, 03/02/2014 - 10:07 | 4496699 fijisailor
fijisailor's picture

Yeah I cringed at that too.  More logical is to break them up and sell off whatever there is of value.

Sun, 03/02/2014 - 10:21 | 4496736 Nimby
Nimby's picture

I thought they same thing, but then I ran into a mental roadblock: is it still not a form of nationalization, even if the government forces them to be broken up?  Of course, they only exist in the present state because the government has made it possible, in which case, are they not already quasi-nationalized to begin with?
I don't think the problems or answers begin or end with the banks; nor do they begin or end with the government.  They begin and end with us.  And we won't do anything so long as they can keep us believing that our rations of bread and circuses will be greater with the status quo than it will be without it. 

Sun, 03/02/2014 - 15:12 | 4497982 SDShack
SDShack's picture

The issue is the rule of law. We have no rule of law now. We have separate laws for separate classes. The elites have their own law, and they write different laws and enforce them for the masses. When Glass-Steagal was repealed, the elites wrote their own law. The corruption went into overdrive after that. All of these bailouts, nationalizations, bail-ins, and other schemes only happen because TPTB are able to skirt, violate, or change existing benefit TPTB, not the masses. Change this, and you change the power paradigm. Don't change it, and become a serf in the Elite's New Feudal World Order. 

Sun, 03/02/2014 - 04:01 | 4496310 AnAnonymous
AnAnonymous's picture

There might be good and bad propaganda.
But 'americans', since their beginning on the world stage on 1776,July,4th, have been using cheap propaganda, the kind of propaganda that is easy to see through.
Their capture of humanity through the natural rights theory, proclaiming unalienable human rights while keeping slaves, was exposed as soon as it was cast. It was cheap propaganda, the 'american' way.

That is the 'american' way. 'Americanism' is all about submission. This is how they operate. They want to force people to pick a side so they can run their business of extorting the weak, farming the poor as easily as it can be.

Works always the same

-State a blatant lie
-Force people to pick a side to submit to a fantaisical narrative
-People are either with the 'american' side or against it.

Nothing new in the 'american' ways.

Sun, 03/02/2014 - 09:23 | 4496611 NuYawkFrankie
NuYawkFrankie's picture

Yup - no one can quite spin 'em as good as the venerable Haaretz On The Hudson

Sun, 03/02/2014 - 09:29 | 4496621 Comte d'herblay
Comte d&#039;herblay's picture

Right except for this:



"....which shifted trillions of dollars to insolvent 'financial institutions' that should have been euthanized".


Substitute Jewish Mafia names for "financial institutions", such as Lord Blankfein and his brotherly accomplices.  

Too often we use innocuous sounding euphemisms to disguise the truth, obfuscate the facts, and purposely distort the events that happened and hide the real human detritus that causes ALL the grief of whatever kind in the world.

"Mistakes were made", is the leading phrasal candidate that responsible blogs should strike from the narrative, consigning it to the oblivion of useless propaganda.

Real human beans, corrupt to their core, stupid as POTUSes sticking cigars in vaginas, while their kid and wife are asleep upstairs, who hide among kindergarten children while the Jihadists decimate 3,000 of us, are behind ALL these things and whose feet should be held until they are charred remnants of bone and ash to the fire. 

Don't join those propaganda types who seek to shift their blame to a sheet of paper. 

Sun, 03/02/2014 - 09:57 | 4496677 fijisailor
fijisailor's picture

One of the common tricks of "good" propaganda is the omission of relevant facts/information.  

This has always been going on in the US as long as I can remember.

Sun, 03/02/2014 - 12:13 | 4497213 tony bonn
tony bonn's picture

this article is a complete home run with bases loaded....the bumbling idiot motif is so often invoked to hide guilt and malice...those who buy the bumbing con job are advertising their location on the totem pole

Sun, 03/02/2014 - 12:47 | 4497351 lunaticfringe
lunaticfringe's picture

I am not sure who authored this piece but thank you very much. This catches the sophistry of the day- all of the complicit elite, Bush, Paulson, the banking committee members. Thank you for compiling this piece- I bookmarked it.

Sun, 03/02/2014 - 13:33 | 4497559 moneybots
moneybots's picture

"Here’s something else you’ll want to know: It was always within Bernanke’s power to stop the bank run and end to the panic, but if he relieved the pressure in the markets too soon (he figured), then Congress wouldn’t cave in to his demands and approve the TARP."


Bernanke pulled in the slosh- liquidity, causing the stock marke to crash.  Denninger brought this up at the time it occurred.  Congress was extorted.

Sun, 03/02/2014 - 16:26 | 4498271 Seize Mars
Seize Mars's picture

Well it took me a while but I just finished reading this article.

You know what? I'm starting to get a slight-little bit tired of seeing my country get fucking screwed and owned.

No more wars, no more debt, no more paper promises, no more lies, no more paper money.

Sun, 03/02/2014 - 22:58 | 4499770 Old Poor Richard
Old Poor Richard's picture

Ah ha, the obvious remedy was (nationalizing the giant Wall Street banks).  Not.  The real remedy was to stand back while the giant Wall Street banks imploded, guaranteeing support ONLY to banks which were exclusively deposit banks and not investment banks.

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